btw has anyome noticed the SAI calcs r totally different this yr? our expected contribution went up like 5k from last yr with basically same income??

As someone who just went through this decision process last year, I want to echo what others have said about maxing out Direct Student loans first. The math really is compelling - that 2%+ interest rate difference adds up to thousands over a 10-year repayment period. One thing I didn't see mentioned yet: if your daughter qualifies for subsidized loans (based on financial need), those are even better since the government pays the interest while she's in school. My son got $3,500 in subsidized and $2,000 unsubsidized for his freshman year. Also, regarding your refinance concerns - the Parent PLUS inquiry will likely cause a temporary small dip in your credit score, but if you're not planning to refinance for several months, that should recover. However, the ongoing monthly payment obligation will definitely factor into your debt-to-income ratio, which lenders scrutinize heavily for mortgage refinancing. We ended up doing exactly what you're considering - daughter took max student loans, we help with payments, and avoided Parent PLUS entirely. So far it's worked out well financially and she's building her credit history with on-time payments.

One last tip - SAVE ALL YOUR FINANCIAL AID DOCUMENTS! Create a folder on your computer and save every email, letter, and document they send you. You'll need them for taxes, future FAFSA applications, and if there are ever any disputes about what was promised vs what was delivered. The system is a mess and you need to protect yourself with documentation.

As someone who was also completely lost my first year, I want to emphasize something really important - you don't have to accept ALL the loans they offer you! I made that mistake and borrowed way more than I actually needed. Here's what helped me understand my aid package: Look for anything labeled "grant" or "scholarship" - that's the free money you don't pay back. Everything else (Direct Subsidized Loan, Direct Unsubsidized Loan, etc.) are loans you'll need to repay. Also, consider starting at a community college for your first two years if cost is a major concern. You can knock out general education requirements for a fraction of the cost, then transfer to a four-year school. I wish someone had told me that option when I was stressing about loans! Don't let the complexity scare you away from college - just make sure you understand what you're signing up for before you sign anything.

btw make sure u tell ur son to check his email from those new schools. sometimes they send important financial aid follow-up stuff right away and if u miss those emails it can mess up getting aid packages

Just wanted to add that you can also track the transmission status through your FSA ID account dashboard. There's a section that shows when your FAFSA data was last sent to each school and the transmission date. This gives you peace of mind that the system actually processed the school additions correctly. I found this really helpful when I was in a similar situation last year - it clearly showed the dates when each school received the updated information, which was about 4 days after I added them to the list.

Did anyone get the weird glitch where it shows your income as $999,999? That happened to me and I nearly had a heart attack thinking my SAI would be astronomical. Had to clear all cookies, restart my computer, and then it finally showed the correct income from my tax return.

Just a quick update for everyone - the Department of Education announced yesterday they're implementing server upgrades this weekend to address the crashes. They're recommending users avoid submitting applications between Friday 8pm and Monday 6am EST if possible. This might help those still struggling to complete their forms!

Going back to your original question - another option is to have your son request his aid summary directly from Federal Student Aid and share it with you. He can download a PDF from his account that shows all federal loans and grants. This way, you don't need his login information, and you'll have documentation you can keep for your records. Much easier than trying to remember multiple logins!

Just wanted to add - if you're planning to help with loan management after graduation, consider having your son set up a third-party authorization with his loan servicer now while he's still in school. This lets you access payment info and make payments on his behalf without needing his login credentials. Each servicer has their own process, but it's much easier to set up before the loans go into repayment. Learned this with my older daughter and it saved so much hassle later!